Cousins Properties Inc (NYSE:CUZ) announced a quarterly dividend on Monday, March 25th, Wall Street Journal reports. Stockholders of record on Wednesday, April 3rd will be paid a dividend of 0.0725 per share by the real estate investment trust on Monday, April 15th. This represents a $0.29 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Tuesday, April 2nd. This is a positive change from Cousins Properties’s previous quarterly dividend of $0.07.
Cousins Properties has decreased its dividend payment by an average of 7.3% annually over the last three years and has increased its dividend every year for the last 5 years. Cousins Properties has a payout ratio of 47.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cousins Properties to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.29 annual dividend with an expected future payout ratio of 40.8%.
Shares of NYSE CUZ opened at $9.62 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.38. Cousins Properties has a fifty-two week low of $7.53 and a fifty-two week high of $10.10. The stock has a market cap of $4.09 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 3.95 and a beta of 1.00.
Several brokerages have recently weighed in on CUZ. Zacks Investment Research lowered Cousins Properties from a “buy” rating to a “hold” rating in a research report on Monday, December 17th. Bank of America set a $11.00 target price on Cousins Properties and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $10.38.
Cousins Properties Company Profile
Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets.
See Also: Dividend
Receive News & Ratings for Cousins Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cousins Properties and related companies with MarketBeat.com's FREE daily email newsletter.